Wednesday, October 9, 2013

Option Open Interest for 09-10-2013

Inference
Nifty saw a gap-down of 35 points, below the psychological level of 5900 but saw the responsive buyers take control from there onwards to end the day at the highest level at 6007.45, a cool gain of 79.05 points. The broader market was also positive, with 873 advances to 457 declines. Highest OI is still at 5700PE and 6100CE for the time being.
  • Call option 6000-6100, 6400-6500 added 13.72 lacs huge amount of OI with small short covering seen at 5800 and below strike prices.
  • Put option 6100-5600 added 26.88 lacs huge amount of OI with small profit booking seen at 5500 and below strike prices.
  • Nifty Open Interest is at 1,62,59,300 up by huge 7,82,200, with increase in price, most probably huge long build-up.
  • Bank Nifty Open Interest is at 18,81,725 down by 29,725, with increase in price, most probably some short covering.
  • FII’s bought huge 9.25 lacs Futures, mostly long build-up, as their net OI increased by 10306 contracts (includes 86381 longs and 67873 shorts) and the average price per contract comes to around 5916.95.
  • FII’s future open contract as on date is 395834.
  • PCR Open Interest (Volume) moved up to 1.306.
  • Initial support now at 6000, with huge addition for the day at 5.53 lacs, below that at 5800, with huge OI of 47.55 lacs.
  • Initial and best resistance at 6100, with OI of 55.40 lacs, above that at 6200 with OI of 33.90 lacs.
  • Day Range as per Option Table is 5899 - 6054 and as per VIX is 5926 - 6089 with 5967 as the Pivot.
Option Call for 10-10-2013
Buy Nifty 6000CE above 171 for targets of 196, 221 SL - 149
Buy Nifty 6000PE above 147 for targets of 174, 225 SL - 139

India VIX : 25.87, down by 0.68 points
Call OI : 34557650
Put OI : 45141650
PCR OI : 1.306
SMR : 19.80 (Bullish: The psychological level of 6000 has been wrested by the Bulls for the time being with a huge Trend Day but need to add OI at 6000 PE as fast as possible or else the Bears will again make a comeback...)